Relevant:
- Bill HR3648. The Senate-bound phantom income bill
- After Massive Financials-Led Rally, WAMU Drops Bomb
- Phantom bonds menace write down of Greek lenders' senior notes
- North Dakota’s Phantom Roughnecks Pump Life Into Economy, Dodge Census
- Citi Earnings Bloodbath: $3.8 Billion ($1.23/Share) In Reported "Earnings" Really $0.5 Billion Or $0.16/Share
2011-01-12 — forbes.com
``All the phantom interest that is not actually collected is booked as income until the actual act of foreclosure. As a resullt, many bank financial statements actually look much better than they actually are. At foreclosure all the phantom income comes off the books of the banks.''
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